Hecla Mining Shares Surge 290%, But Dividend Policy Remains Unchanged
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Should l Buy HL?
Source: Fool
- Significant Performance Improvement: In Q3 2025, Hecla Mining's sales surged by 67% year-over-year, propelling earnings per share from break-even last year to $0.15, demonstrating the positive impact of rising precious metal prices amid increasing geopolitical and economic uncertainty.
- Revenue Structure Analysis: In Q3 2025, silver accounted for 48% of Hecla's total revenue, with gold at 37%, and lead and zinc making up the remainder, indicating the company's heavy reliance on precious metals, where future price fluctuations will directly affect its financial health.
- Stable Dividend Policy: Despite improved financial results, Hecla's annual dividend remains at $0.015 per share, as management prioritizes debt repayment and reinvestment in the business, a capital allocation decision that may impact investor return expectations.
- Market Volatility Risks: Given the recent pullback in precious metal prices, investors should not expect significant dividends from Hecla Mining, especially in a highly volatile market, suggesting that those seeking stable dividends may need to look elsewhere.
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Analyst Views on HL
Wall Street analysts forecast HL stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for HL is 15.42 USD with a low forecast of 12.00 USD and a high forecast of 19.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
2 Buy
3 Hold
1 Sell
Hold
Current: 22.520
Low
12.00
Averages
15.42
High
19.00
Current: 22.520
Low
12.00
Averages
15.42
High
19.00
About HL
Hecla Mining Company is a silver producer in the United States and Canada. The Company discovers, acquires and develops mines and other mineral interests and produces and markets concentrates containing silver, gold, lead, zinc and copper; carbon material containing silver and gold, and unrefined dore containing silver and gold. The Company's segments include Greens Creek, Lucky Friday, Keno Hill and Casa Berardi. The Greens Creek operation is located on Admiralty Island, near Juneau, Alaska. The Greens Creek ore body contains silver, zinc, gold and lead. The Lucky Friday mine is a deep underground silver, lead, and zinc mine located in the Coeur d’Alene Mining District in northern Idaho. The Casa Berardi mine is an underground/open-pit gold mine located in western Quebec. It owns 100% of the Keno Hill Silver Project, which is located within the Keno Hill Silver District in Canada’s Yukon Territory. The Company also owns a number of exploration and pre-development projects.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Hecla Mining Shares Surge 290%, But Dividend Policy Remains Unchanged
- Significant Performance Improvement: In Q3 2025, Hecla Mining's sales surged by 67% year-over-year, propelling earnings per share from break-even last year to $0.15, demonstrating the positive impact of rising precious metal prices amid increasing geopolitical and economic uncertainty.
- Revenue Structure Analysis: In Q3 2025, silver accounted for 48% of Hecla's total revenue, with gold at 37%, and lead and zinc making up the remainder, indicating the company's heavy reliance on precious metals, where future price fluctuations will directly affect its financial health.
- Stable Dividend Policy: Despite improved financial results, Hecla's annual dividend remains at $0.015 per share, as management prioritizes debt repayment and reinvestment in the business, a capital allocation decision that may impact investor return expectations.
- Market Volatility Risks: Given the recent pullback in precious metal prices, investors should not expect significant dividends from Hecla Mining, especially in a highly volatile market, suggesting that those seeking stable dividends may need to look elsewhere.
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- Price Fluctuation Analysis: The XME ETF has a 52-week low of $45.89 and a high of $135.6764, with the last trade at $118.88, indicating significant volatility over the past year that may influence investor decisions and market sentiment.
- Technical Analysis Tool: Comparing the current share price to the 200-day moving average provides valuable insights for investors, helping them assess market trends and identify potential buy or sell opportunities.
- ETF Unit Trading Mechanism: ETFs trade similarly to stocks, where investors buy and sell 'units' that can be created or destroyed based on demand, impacting the ETF's liquidity and market performance.
- Inflows and Outflows Monitoring: Weekly monitoring of changes in shares outstanding helps identify notable inflows (new units created) or outflows (old units destroyed), which can affect the performance of individual stocks within the ETF and overall market dynamics.
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Gold Futures Drop While Silver Futures Rise Amid Market Volatility
- Gold Futures Decline: March 2026 gold futures fell 1% to $4,717 per ounce, reflecting increasing selling pressure in the precious metals market, despite JPMorgan's forecast of gold prices reaching $6,300 by year-end, indicating potential future demand.
- Silver Futures Rise: Although spot silver prices plummeted over 26% on Friday, March 2026 silver futures gained 2.7% to $80.6 per ounce, suggesting persistent demand for silver that may attract investors back into the market.
- Dollar Index Rises: The U.S. Dollar Index (DXY) increased by 0.1% to 97.3 in pre-market trading, indicating the dollar's strength is exerting pressure on the precious metals market, prompting investors to reassess their asset allocations.
- ETF Performance Declines: The iShares Silver Trust (SLV) slid to its lowest level since January 9 in pre-market trading, with Friday's sell-off wiping out its year-to-date gains from around 80% to approximately 30%, reflecting a dramatic shift in market sentiment.
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Ten Large-Cap Stocks with Worst Performance Last Week
- Unity Software Plunge: Unity Software Inc. saw a 31.63% drop this week, primarily due to CEO Matthew Bromberg's social media post about the company and 'world models', raising concerns about its future and potentially undermining investor confidence.
- Hecla Mining Decline: Hecla Mining Company experienced a 33.33% decrease this week, as President Trump's nomination of Kevin Warsh for Fed Chair strengthened the dollar, reducing demand for safe-haven assets and negatively impacting precious metal stocks.
- UnitedHealth Target Cuts: UnitedHealth Group Incorporated fell 17.87% this week after multiple analyst firms lowered their price targets, reflecting market concerns over its future profitability and prompting investors to reassess their holdings.
- First Majestic Silver Drop: First Majestic Silver Corp. decreased by 22.86% this week amid a broader weakness in the precious metals market, leading to investor unease regarding the company's outlook and potentially affecting its financing and expansion plans.
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Orezone Acquires Hecla Quebec for $272 Million, Targeting Q1 2026 Closure
- Transaction Overview: Orezone plans to acquire Hecla Quebec for $272 million, which includes the Casa Berardi mine and exploration assets, with $160 million in cash, $112 million in a 9.9% equity issuance, $80 million in deferred payments, and up to $240 million in contingent payments, targeting closure in Q1 2026.
- Production Target Enhancement: This acquisition positions Orezone as a diversified mid-tier gold producer, with consolidated production guidance of 230,000 to 250,000 ounces for 2026, medium-term targets of 350,000 ounces annually, and plans for 80,000 to 100,000 meters of exploration each year to support long-term growth.
- Casa Berardi Mine Overview: Casa Berardi boasts 1.3 million ounces of reserves and 2.1 million ounces of resources, having produced 3.2 million ounces of gold over 30 years with an average annual output exceeding 106,000 ounces, and Orezone aims to extend the mine's life by expanding underground operations and the F160 pit to avoid processing pauses.
- Strategic Investment and Market Outlook: This transaction provides Orezone entry into a
See More
Hecla Mining Sells Casa Berardi for $600M to Accelerate Cash Flow
- Casa Berardi Sale: Hecla agreed to sell Casa Berardi for nearly $600 million, comprising $160 million in cash and 9.9% of Aurizon shares, aiming to accelerate cash flow and pivot to a silver-first strategy, with the deal expected to close in about 30 days.
- Financial Strength Improvement: Hecla ended 2025 with $242 million in cash and over $500 million in liquidity, reducing debt by approximately 50%, improving gross leverage from 1.6x to 0.4x, and generating $310 million in free cash flow, indicating a significant enhancement in financial health.
- 2026 Production Guidance: Hecla anticipates silver production of 15.1 to 16.5 million ounces in 2026, with capital expenditures between $255 million and $279 million and exploration budget set at $55 million, targeting a medium-term goal of around 20 million ounces driven by Keno Hill ramp-up and potential Midas restart.
- Optimistic Silver Market Outlook: Management highlighted that silver prices have surpassed $110 per ounce, with global supply facing a structural deficit and industrial demand growing at a 10% annual rate, providing robust support for Hecla's
See More
Hecla Mining Shares Surge 290%, But Dividend Policy Remains Unchanged
- Significant Performance Improvement: In Q3 2025, Hecla Mining's sales surged by 67% year-over-year, propelling earnings per share from break-even last year to $0.15, demonstrating the positive impact of rising precious metal prices amid increasing geopolitical and economic uncertainty.
- Revenue Structure Analysis: In Q3 2025, silver accounted for 48% of Hecla's total revenue, with gold at 37%, and lead and zinc making up the remainder, indicating the company's heavy reliance on precious metals, where future price fluctuations will directly affect its financial health.
- Stable Dividend Policy: Despite improved financial results, Hecla's annual dividend remains at $0.015 per share, as management prioritizes debt repayment and reinvestment in the business, a capital allocation decision that may impact investor return expectations.
- Market Volatility Risks: Given the recent pullback in precious metal prices, investors should not expect significant dividends from Hecla Mining, especially in a highly volatile market, suggesting that those seeking stable dividends may need to look elsewhere.
See More
Analysis of XME ETF Trading Dynamics
- Price Fluctuation Analysis: The XME ETF has a 52-week low of $45.89 and a high of $135.6764, with the last trade at $118.88, indicating significant volatility over the past year that may influence investor decisions and market sentiment.
- Technical Analysis Tool: Comparing the current share price to the 200-day moving average provides valuable insights for investors, helping them assess market trends and identify potential buy or sell opportunities.
- ETF Unit Trading Mechanism: ETFs trade similarly to stocks, where investors buy and sell 'units' that can be created or destroyed based on demand, impacting the ETF's liquidity and market performance.
- Inflows and Outflows Monitoring: Weekly monitoring of changes in shares outstanding helps identify notable inflows (new units created) or outflows (old units destroyed), which can affect the performance of individual stocks within the ETF and overall market dynamics.
See More
Gold Futures Drop While Silver Futures Rise Amid Market Volatility
- Gold Futures Decline: March 2026 gold futures fell 1% to $4,717 per ounce, reflecting increasing selling pressure in the precious metals market, despite JPMorgan's forecast of gold prices reaching $6,300 by year-end, indicating potential future demand.
- Silver Futures Rise: Although spot silver prices plummeted over 26% on Friday, March 2026 silver futures gained 2.7% to $80.6 per ounce, suggesting persistent demand for silver that may attract investors back into the market.
- Dollar Index Rises: The U.S. Dollar Index (DXY) increased by 0.1% to 97.3 in pre-market trading, indicating the dollar's strength is exerting pressure on the precious metals market, prompting investors to reassess their asset allocations.
- ETF Performance Declines: The iShares Silver Trust (SLV) slid to its lowest level since January 9 in pre-market trading, with Friday's sell-off wiping out its year-to-date gains from around 80% to approximately 30%, reflecting a dramatic shift in market sentiment.
See More
Ten Large-Cap Stocks with Worst Performance Last Week
- Unity Software Plunge: Unity Software Inc. saw a 31.63% drop this week, primarily due to CEO Matthew Bromberg's social media post about the company and 'world models', raising concerns about its future and potentially undermining investor confidence.
- Hecla Mining Decline: Hecla Mining Company experienced a 33.33% decrease this week, as President Trump's nomination of Kevin Warsh for Fed Chair strengthened the dollar, reducing demand for safe-haven assets and negatively impacting precious metal stocks.
- UnitedHealth Target Cuts: UnitedHealth Group Incorporated fell 17.87% this week after multiple analyst firms lowered their price targets, reflecting market concerns over its future profitability and prompting investors to reassess their holdings.
- First Majestic Silver Drop: First Majestic Silver Corp. decreased by 22.86% this week amid a broader weakness in the precious metals market, leading to investor unease regarding the company's outlook and potentially affecting its financing and expansion plans.
See More
Orezone Acquires Hecla Quebec for $272 Million, Targeting Q1 2026 Closure
- Transaction Overview: Orezone plans to acquire Hecla Quebec for $272 million, which includes the Casa Berardi mine and exploration assets, with $160 million in cash, $112 million in a 9.9% equity issuance, $80 million in deferred payments, and up to $240 million in contingent payments, targeting closure in Q1 2026.
- Production Target Enhancement: This acquisition positions Orezone as a diversified mid-tier gold producer, with consolidated production guidance of 230,000 to 250,000 ounces for 2026, medium-term targets of 350,000 ounces annually, and plans for 80,000 to 100,000 meters of exploration each year to support long-term growth.
- Casa Berardi Mine Overview: Casa Berardi boasts 1.3 million ounces of reserves and 2.1 million ounces of resources, having produced 3.2 million ounces of gold over 30 years with an average annual output exceeding 106,000 ounces, and Orezone aims to extend the mine's life by expanding underground operations and the F160 pit to avoid processing pauses.
- Strategic Investment and Market Outlook: This transaction provides Orezone entry into a
See More
Hecla Mining Sells Casa Berardi for $600M to Accelerate Cash Flow
- Casa Berardi Sale: Hecla agreed to sell Casa Berardi for nearly $600 million, comprising $160 million in cash and 9.9% of Aurizon shares, aiming to accelerate cash flow and pivot to a silver-first strategy, with the deal expected to close in about 30 days.
- Financial Strength Improvement: Hecla ended 2025 with $242 million in cash and over $500 million in liquidity, reducing debt by approximately 50%, improving gross leverage from 1.6x to 0.4x, and generating $310 million in free cash flow, indicating a significant enhancement in financial health.
- 2026 Production Guidance: Hecla anticipates silver production of 15.1 to 16.5 million ounces in 2026, with capital expenditures between $255 million and $279 million and exploration budget set at $55 million, targeting a medium-term goal of around 20 million ounces driven by Keno Hill ramp-up and potential Midas restart.
- Optimistic Silver Market Outlook: Management highlighted that silver prices have surpassed $110 per ounce, with global supply facing a structural deficit and industrial demand growing at a 10% annual rate, providing robust support for Hecla's
See More
